5 Ways to Avoid Losing Money on Facebook Ads

Advertising on Facebook can either be an effective means of improving your bottom line or nothing more than a waste of time and, more important, money.

For small business owners, who must keep track of every dollar they spend, the difference between the two can be as simple as the content and delivery of their advertisements. Unfortunately, for many small business owners, the potential of losing money on ads may scare them away from experiencing the benefits that the ads can have.

For business owners afraid of losing money on Facebook ads, BusinessNewsDaily spoke with Tyler Barnett of Tyler Barnett PR and Jenna Watson of Visionary5 about five steps they can take to maximize their advertising dollars. Both Barnett and Watson regularly use Facebook ad campaigns for their clients. Their tips include:

Do your research —Before starting a Facebook AdWords campaign, be sure to educate yourself on the basics. Knowing which type of images and text work best before you begin give you an immediate advantage.

Start small—Try testing a few different ads for a couple days using a very small budget. You can always increase the budget if your campaign is working well, but you cannot get it back.

Test multiple ads—Create three to five ads with different images and messages. Stop the ads that are not delivering immediately and learn from the ads that are doing well.

Monitor the campaign daily —Be sure to log in to your account a few times a day to make sure of the amount left in your budget.

Be creative—The real key to success with Facebook ads is creativity. Try and put yourself in the head of the consumer and create ads that you think will grab their attention and get them to click or like.